SCHERING-PLOUGH TO DEVELOP CENTOCOR COMPOUND

Schering-Plough Corp. (SGP.N: Quote, Profile, Research) said on Tuesday it will develop Centocor Inc.'s treatment for rheumatoid arthritis and other inflammatory diseases. The drugmaker said it will take a third-quarter charge of $125 million related to the agreement with Centocor, its development partner since 1988. Centocor is a Johnson & Johnson (JNJ.N: Quote, Profile, Research) subsidiary.

Reuters (http://today.reuters.com/investing/financeArticle.aspx?type=marketsNews&storyID=2005-08-16T122344Z_01_WEN7594_RTRIDST_0_HEALTH-SCHERING-PLOUGH-URGENT.XML)